The downward adjustment of coffee prices on both exchanges is common after a hot rally …
Robusta London chart Saturday / 2021 session on May 7, 2021
Ending the last session of the week, Robusta coffee prices on ICE Europe – London decreased. July spot futures dropped 8 USD, down to 1,539 USD / ton and futures for September delivery also dropped by 8 USD, to 1,561 USD / ton, the slight decrease. Trading volume above average.
Similarly, Arabica coffee prices on the ICE US – New York floor followed a downtrend. July futures fell 1.4 cents, down 152.9 cents / lb and September futures also dropped 1.4 cents, to 154.8 cents / lb, a significant decrease. Trading volume very high above mGermany medium.
The price of coffee beans in the Central Highlands provinces decreased by 100-200 VND, down fluctuating in the frame of 34,300 – 34,700 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,581 USD / ton, FOB – HCM, with the difference plus at 20 USD / ton in term of September in London.
Reais copper increased 0.94%, exchange rate increased at 1 USD = 5.2280 Reais due to better-than-expected Brazilian economic growth, while USDX continued to decline due to the devaluation sentiment across the greenback. demand after the reported data showed that the US economic growth was uncertain and thus attracted speculative capital flows back into stocks.
The downward adjustment of coffee prices after a hot rise is common after a sharp increase in buying by major hedge funds on both derivatives, stemming from supply concerns of the upcoming 2021/2022 coffee crop. decline. As early as April, the Bloomberg news agency called it “nightmare” when the world is about to face a coffee shortage “never happend”.
English (giacaphe.com)
